FY2025 Earnings Forecast for Cathay General Bancorp Issued By DA Davidson (NASDAQ:CATY)

Cathay General Bancorp (NASDAQ:CATY) – Investment analysts at DA Davidson dropped their FY2025 earnings per share estimates for shares of Cathay General Bancorp in a report issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $4.46 for the year, down from their previous estimate of $4.49. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.00 per share.

A number of other research firms have also recently weighed in on CATY. StockNews.com cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, April 6th. Truist Financial lowered their price objective on Cathay General Bancorp from $46.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.20.

Cathay General Bancorp Stock Up 3.9 %

Shares of NASDAQ CATY opened at $36.00 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.62 billion, a PE ratio of 7.41 and a beta of 1.12. The stock’s fifty day simple moving average is $38.06 and its two-hundred day simple moving average is $38.75. Cathay General Bancorp has a 12-month low of $27.24 and a 12-month high of $45.72.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, January 24th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.15. The business had revenue of $205.24 million for the quarter, compared to analysts’ expectations of $197.95 million. Cathay General Bancorp had a return on equity of 13.89% and a net margin of 27.02%.

Cathay General Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.78%. Cathay General Bancorp’s dividend payout ratio is currently 27.98%.

Insiders Place Their Bets

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 7,000 shares of Cathay General Bancorp stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $43.45, for a total transaction of $304,150.00. Following the completion of the sale, the insider now owns 204,500 shares of the company’s stock, valued at approximately $8,885,525. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Cathay General Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CATY. Norges Bank acquired a new stake in Cathay General Bancorp during the 4th quarter worth about $34,563,000. Vanguard Group Inc. raised its stake in shares of Cathay General Bancorp by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,058,670 shares of the bank’s stock valued at $280,119,000 after buying an additional 749,370 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Cathay General Bancorp during the 3rd quarter valued at about $25,138,000. State Street Corp raised its stake in shares of Cathay General Bancorp by 9.4% during the 1st quarter. State Street Corp now owns 3,708,830 shares of the bank’s stock valued at $165,970,000 after buying an additional 317,721 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Cathay General Bancorp by 155.8% during the 1st quarter. First Trust Advisors LP now owns 517,235 shares of the bank’s stock valued at $17,855,000 after buying an additional 315,042 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Cathay General Bancorp Company Profile

Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.